On January$1,$

$20252025,$

a business borrowed

$ $16$ comma $000$$$16,000$

on a$$ five$-$year,

$66\%$

notes payable. At December$31,$

$20252025,$

the business should record

Question content area bottom

Part $1$

A$.$

notes receivable of

$ $16$ comma $000$$$16,000.$

B$.$

interest payable of

$ $960$$$960.$

C$.$

cash payment of

$ $16$ comma $000$$$16,000.$

D$.$

nothing.$($The note is already on the$$ books.$)$